Nearly two years ago, Phaneuf topped an SI.com poll of 161 NHL players who ranked him the most overrated player in the league, prompting then-Leafs GM Brian Burke to make a spirited defense of his captain.

During last spring's playoff series against the Boston Bruins, former Leafs captain Wendel Clark sprang to Phaneuf's defense after Phaneuf was criticized for a blunder in Game 4 that resulted in an overtime winner by Bruins forward David Krejci.

It's the cost of keeping Phaneuf, however, that's raised some concern in Leafs Nation.

TSN's Darren Dreger believes Phaneuf “will not take a dime less” than his current $6.5 million annual cap hit. Phaneuf’s critics, on the other hand, believe he should accept a pay cut to remain a Leaf.

If Phaneuf won't accept less than his current salary, the Leafs could attempt to re-sign him to that salary, but over a shorter term. Then again, they could offer a raise on a long-term extension, keeping him in the fold and provoking outrage from his critics.

Considering the Leafs re-signed Tyler Bozak (another target of frequent criticism from Leafs Nation) to a significant raise this summer, Nonis won't bat an eye if Phaneuf's new deal doesn't sit well with the fans.

Nonis could also wait and see how this season unfolds before getting down to serious talks with his captain. If Phaneuf and the Leafs march deep into the 2014 Stanley Cup playoffs, the more likely he'll get a significant raise. If he helps the Leafs end their 47-year Cup drought, they'll happily open the vault for him.

Expect Phaneuf's contract status to remain a hot topic for Leafs fans throughout this season.